...now at $285, and struggling insanely hard to avoid dropping back down to this morning's low (so far) of $250.
The brief rise is the dead-cat bounce from the last-minute lemmings who cued in on the LinkedIn and CNBC coverage this morning, so if you ever needed a last-minute warning, this is likely it.
I bet the floor will drop out from under it by noon.
it wasnt because of reddit that moron fucked up. He chose to short GME on a Christmas season where literally the only thing kids can do is play video games. Short interest on any stock is public information.
Its a good story to say the people beat some wall street fat cat though lol
Their Q4 earnings don't come out in Q4. Their Q3 earnings were whatever. Had nothing to do with that. It was the response to the shorts that caused the short squeeze.
If you are going to be forced to buy every share of a stock on a certain date regardless of price, you damn sure don't let anyone know about it or they will just run up the price for when you are forced to buy it.
This isn't market manipulation and it isn't rocket science, it's just one stupid faggot bragging about how smart he is(n't).
i agree talking about it just made it all worst. but honestly, shorting a volatile stock on the time of year where they make all their profits is retarded to begin with lol
It depends entirely on how the funds squeezed are funded. If they are made up of your 401ks, then basically you have paid money to someone to lose money for you. This does not appear to be the case for funds like Melvin Capital.
The other way is if the funds in question do a massive selloff elsewhere to cover for these losses. So you get hit by 2nd and 3rd order effects, as your other stock prices tank. This only happens of they reach a point where they need to raise cash instantly. I dont think this appears to be the case yet either, since the prime culprit, Melvin Capital just got bailed out.
The sudden interest in retail investing is the bigger indicator here. The optimism for "stonks" is bringing in folks from the sidelines, and the Fed's perpetual growth monetary policy is feeding the "stocks can't lose" sentiment. Plus, record low returns on debt moves even more people into equity products.
With US demographics, we have a large portion of the population that is dependent on equity investments to maintain their retirement. If that fails, many will (be forced to) return to the labor market on some capacity.
We're potentially looking at high inflation, high unemployment, loss of wealth in nominal and real terms, defaults on debt across the board. Funny thing is the the bail out is going to be worse than the bubble popping. The Great Reset is repackaged feudalism.
Pumping up the stock value up to fuck over hedge funds that naked shorted gamestop’s stock. A naked short is where there isn’t enough stocks available to cover the short. Theoretically shorting a stock is illegal if you don’t cover the short to existing real stocks. In this case it’s wall street fuckery since the short contracts have more stocks than exist, so no way it’s possible the shorts are legal.
Reddit got together and started buying Gamestop’s stock to increase it’s value, this will fuck over anyone with a short contract big time.
What are they doing exactly?
Some moron hedge fund manager told everyone of his plan to short GME, which has low float and Reddit saw it and caused a short squeeze.
Gamestop stock has gone from $4 flat to $140+ as hedge fund managers and internet trolls are waging war against each other.
https://finance.yahoo.com/quote/GME
Shit it just blew up to $300 when the market just opened.
Now Robinhood and TD app are down.
What. It was $150 yesterday. Lol. Lot’s of firms and funds on wall street are going to go belly up when their shorts are due on Friday.
It's currently at $310
Gamers: "Hey, this is even easier than Minecraft!"
Brokers: "You can't just manipulate the market like we do. I mean, you aren't skilled enough to do that sort of ..."
Gamers: "Stocks go BRRRR"
...now at $285, and struggling insanely hard to avoid dropping back down to this morning's low (so far) of $250.
The brief rise is the dead-cat bounce from the last-minute lemmings who cued in on the LinkedIn and CNBC coverage this morning, so if you ever needed a last-minute warning, this is likely it.
I bet the floor will drop out from under it by noon.
😳
Nah regular joes, who work 9 to 5s, who invest are waging war against hedge fund managers who are shorting stocks. Get it right.
The war against the rich has broken out into the stock market. It's fucking glorious.
this is fucking hilarious and glorious for once i'm so proud of gamers
Battletoads
no one remembers how insanely hard that game was.
That was some top tier trolling. They had game footage and everything.
lmao love it hope the hedge fund managers lose billions
it wasnt because of reddit that moron fucked up. He chose to short GME on a Christmas season where literally the only thing kids can do is play video games. Short interest on any stock is public information.
Its a good story to say the people beat some wall street fat cat though lol
Yeah but GME is shitty business. So its understandable.
That is why everyone is shocked. 100%+ for GME?
Well, 6,500% over the past six months, 100% today.
eh short spikes in stocks are not much to do with the business model as a whole. the guy is just stupid to decide to short during xmas season
Look at that P/E tho
Their Q4 earnings don't come out in Q4. Their Q3 earnings were whatever. Had nothing to do with that. It was the response to the shorts that caused the short squeeze.
The short wasn't the mistake.
The mistake was talking about it.
If you are going to be forced to buy every share of a stock on a certain date regardless of price, you damn sure don't let anyone know about it or they will just run up the price for when you are forced to buy it.
This isn't market manipulation and it isn't rocket science, it's just one stupid faggot bragging about how smart he is(n't).
i agree talking about it just made it all worst. but honestly, shorting a volatile stock on the time of year where they make all their profits is retarded to begin with lol
4chan was also on it and they all had the price target of $1488
Not only that, but the short was over 100% of available stock.
Just make some rich people bankrupt
Nice.
Expect some brokers and traders to be jumping out of windows at tomorrow's closing.
TL:DR: Ancaps beat the Ancoms in actually hurting Billionaires.
It depends entirely on how the funds squeezed are funded. If they are made up of your 401ks, then basically you have paid money to someone to lose money for you. This does not appear to be the case for funds like Melvin Capital.
The other way is if the funds in question do a massive selloff elsewhere to cover for these losses. So you get hit by 2nd and 3rd order effects, as your other stock prices tank. This only happens of they reach a point where they need to raise cash instantly. I dont think this appears to be the case yet either, since the prime culprit, Melvin Capital just got bailed out.
Didn't they just get bailed out but then jumped right back in?
The sudden interest in retail investing is the bigger indicator here. The optimism for "stonks" is bringing in folks from the sidelines, and the Fed's perpetual growth monetary policy is feeding the "stocks can't lose" sentiment. Plus, record low returns on debt moves even more people into equity products.
With US demographics, we have a large portion of the population that is dependent on equity investments to maintain their retirement. If that fails, many will (be forced to) return to the labor market on some capacity.
We're potentially looking at high inflation, high unemployment, loss of wealth in nominal and real terms, defaults on debt across the board. Funny thing is the the bail out is going to be worse than the bubble popping. The Great Reset is repackaged feudalism.
As opposed to the already coming disaster?
Boomer retirement funds? Are these the same boomers who let gubmint run unchecked for 50 years?
Pumping up the stock value up to fuck over hedge funds that naked shorted gamestop’s stock. A naked short is where there isn’t enough stocks available to cover the short. Theoretically shorting a stock is illegal if you don’t cover the short to existing real stocks. In this case it’s wall street fuckery since the short contracts have more stocks than exist, so no way it’s possible the shorts are legal.
Reddit got together and started buying Gamestop’s stock to increase it’s value, this will fuck over anyone with a short contract big time.
essentially Reddit trolled the economy.